Job woes slow home buying decisions

Hamden (WTNH) - Fears of losing a job are affecting many people's decisions on whether to buy a home.

A survey released Thursday by Realtor.com, the National Association of Realtors, found that while there are great deals to be had, Americans are in too much of a financial pinch to even think about buying.

Of those questioned the survey found:

• 53% said they were not ready to buy.
• 20% were interested in a foreclosed home.
• 15% said they were interested in the new $8,000 tax credit for first-time buyers.
• 15% said they don't expect prices will fall any time soon.

Those federal and state incentives were designed to kick-start sales, but it's unclear if they are working.

Some foreclosed homes that used to list for $500,000 are down to $300,000, but people say fear of spending a lot of money to fix up those homes is keeping them away.

The survey was conducted at the end of June. 1,004 randomly chosen adults were called nationwide to get their thoughts.